MCB Bank Ltd SCHEDULE OF BANK CHARGES Effective from 07/05/2014
TABLE OF CONTENTS 1. GENERAL... 3 2.INTERNATIONAL BANKING... 4 (I). TRADE... 4 A.IMPORTS... 4 B.EXPORTS... 5 (II).REMITTANCES... 6 1. INWARD TELEGRAPHIC TRANSFERS... 6 2. OUTWARD TELEGRAPHIC TRANSFERS... 7 3. DEMAND DRAFTS (DD)... 8 3. DOMESTIC BANKING... 9 (I). IANAT CURRENT ACCOUNTS... 9 (II). MUDARABAH TERM DEPOSITS... 11 (III). SAVINGS ACCOUNTS... 11 (i) AL MAKHRAJ NORMAL SAVINGS ACCOUNT... 11 (ii).al MAKHRAJ MINOR SAVINGS ACCOUNT... 11 (IV).FOREIGN CURRENCY ACCOUNTS... 12 (V). PAY ORDERS / FUNDS TRANSFERS... 12 (VI). STANDING ORDERS... 12 (VII). ATM SERVICES... 13 (VIII). ADDITIONAL SERVICES... 13 (IX). SAFETY LOCKERS... 14 (X). BANK GUARANTEES... 14 (XI) IJARA... 14 Page 2
1. GENERAL o All charges are subject to Government Taxes and other statutory levies presently in force and which may come into force at a future date. o The Charges included in this schedule are the standard regular charges.any exceptions will be with the written consent of the Country General Manager or Head of Operations. o Applicable to all branches in Sri Lanka. o Charges or commissions for FCY accounts are quoted in USD for other currencies it should be an equalling amount in the applicable currency. Profit Mark-up Profit sharing ratios are subject to change without notice. However, in the case of Mudarabah Term Deposits the contracted profit sharing ratio will prevail until the maturity date of the deposit. Withdrawals of Term Deposit before maturity date will be permitted only at the Bank s sole discretion. Withholding Tax o Withholding Tax would be levied on the profit paid on Rupee Savings and Deposit account where the account holder becomes liable to pay Sri Lanka Income Tax in accordance with the criteria defined by the Dept. of Inland Revenue from time to time. o The tax is automatically deducted by the Bank on profit application and the Certificate of Tax deduction should be issued to the client. Page 3
(I). TRADE 2.INTERNATIONAL BANKING A.IMPORTS 1. LC Service Charges 0.25% for 90 days; Minimum Rs. 2,000 and 0.125% per 30 days thereafter 2. Acceptance Charges 0.25% for 90 days; Minimum Rs. 2,000 and 0.125% per 30 days thereafter 3. Swift Charges for L/C opening Rs. 2,500/- 4.Amendment/Enhancement charges 0.25% for 30 days; Minimum Rs. 1,000 and Rs. 1,000 for Swift charges 5.Courier Charges Rs. 1,000/- 6. SWIFT charges other than LC opening & Amendments USD 15/- 7.Service Charge on Collection Documents + Additional charge for DA Rs. 1,000 + USD 40 deduct from proceeds 0.5% < USD 10,000 0.25% > USD 10,000 8. Exchange Charge on Import Documents (a)if payments are made by debiting FCA (b)if payments are made by debiting Rs. Account Charge in lieu of exchange 0.25% of Bill value Minimum exchange profit of 25 cents per USD Page 4
9. Overseas Remittance Charges (a) LC (b) Collections USD 50 USD 40 10. Discrepancy fee USD 100 (85+15) 11.Service charges on Shipping Guarantee 0.25% of Invoice Value, minimum Rs. 2,000/- 12.Service Charge on Delivery Orders 0.25% of Invoice Value, minimum Rs. 2,000/- 13.Documents transferred to other banks in Sri Lanka Rs. 2,500/- All trade finance / guarantee related items can be relaxed /waived by CGM / Head of Operations on the recommendations made by the Business Head/Regional Manager/ Branch Manager. B.EXPORTS 1. LC advising Customer Rs. 1500/- Non customer Rs. 2000/- 2. Amendments Customer Rs. 1000/- Non customer Rs. 1500/- 3. Transfers Rs. 3,500/- 4.Collection Proceeds to LCY Courier/handling charges LKR 3,000/- at TT buying rate Page 5
Proceeds to FCY Courier/handling charges USD 40/- Service Charge in lieu of exchange 0.25%, minimum USD 25 5.Purchase/negotiation Proceeds to LKR Profit for number of days built into exchange rate Courier/handling charge LKR 3,000/- Purchase charge 0.125% minimum LKR 2000/- Proceeds to FCY Courier/handling charge USD 40/- Service Charge in lieu of exchange 0.25% minimum USD 25/- All trade finance / guarantee related items can be relaxed /waived by CGM / Head of Operations on the recommendations made by the Business Head/Regional Manager/ Branch Manager. (II).REMITTANCES 1. INWARD TELEGRAPHIC TRANSFERS 1.1 ITT related to customer account maintained with our Bank. Bank will purchase the incoming FCY at TT Buying rate of such currency and proceeds will be credited to LKR account or FCY account of the customer only after deducting following charges. Page 6
CCY RB Account Debit Charge LKR LKR 600 USD USD 5 GBP GBP 3 EURO EURO 3 SGD SGD 8 JPY JPY 400 AUD AUD 5 1.2 All ITT received for debit of Vostro Account maintained with MCB Sri Lanka. CCY Description Mezan Bank Habib American Bank MCB Karachchi & Other Commission 15 20 30 USD SWIFT 25 25 25 Total 40 45 55 1.3 Any Credits to Vostro account; More than USD 10,000 - USD 10 Less than USD 10,000 - USD 5 1.4 No commission is charged with regard to Nostro funding. 2. OUTWARD TELEGRAPHIC TRANSFERS 2.1 Charges for Swift and Commission on OTT are as follows. BRANCH CCY SWIFT COMMISSION VAT TOTAL DBU LKR 1,600 1,100 (swift*12%) 192.00 2,892.00 DBU USD 15 10 1.80 26.80 FCBU USD 15 13 1.80 29.80 DBU EURO 7 3 0.84 10.84 DBU GBP 7 3 0.84 10.84 Investigation charges including Traces for confirmation of receipt of funds USD 15 (per tracer) Page 7
3. DEMAND DRAFTS (DD) i.dd PURCHASE The Bank at its discretion purchase drafts issued by other local or Foreign Commercial Banks drawn on their Foreign Correspondent Banks. All drafts purchased should be with the prior approval of the CGM/Head of Operations. All purchases are made with the full recourse to the customer in the event of non payment by the paying bank. Payment will be made at the DD buying rate. Customers Credited to a Rupee Account Service Charge of US$ 5/- (DD buying rates will apply) Credited to a Foreign Currency Account (Service Charge of USD 5) + (0.25% of the face value of the Draft) + (* cost of funds for 4/14 days) *Cost of funds: = If local clearing, 4 days @ LlBOR 1 month + 3% If overseas clearing, 14 days @ LlBOR 1 month + 3% Cancellation of Demand Draft Draft Sent on Collection Service Charge of USD 5/- (or Eqv in other currencies where applicable) Service Charge of USD 5/- at the time of crediting proceeds. (or Eqv in other currencies where applicable)applicable courier charges if any Page 8
ii.dd ISSUANCE From Rupee Accounts (TT selling rate) Service Charge of US$ 5/- FCY Accounts USD 5/- Lost or stolen Drafts US$ 10/- + US$ 15/- Swift Charges (or Eqv in other currencies where applicable) Investigation charges including Traces for confirmation of receipt of funds: US$ 5+ US$ 15/- Swift Charges. 3. DOMESTIC BANKING (I). IANAT CURRENT ACCOUNTS 1. Initial Deposit Personal Account 5000/- Institutional Account Rs.10,000/- 2.Profits No Profit is paid on Ianat Current Account credit balances. No overdrafts facilities are offered by the Bank. 3.Cheque Book Charges i.issuing Cost Customers Rs. 10/- per cheque leaf ii.continues Personalized cheque leaves 10% of actual cost as service charge Page 9
i.returned Cheques a) For lack of funds Rs. 2,000/- ii.payments stopped (Per cheque ) (Stop payment instructions to be accepted only if sufficient funds are available to recover the applicable charges ) Rs. 500/- (Other than for lack of funds) Rs. 2,000/- (If payment stopped for lack of funds) Rs. 2,500/- for a cheque book or a series of Cheques (Series of cheques should be considered as more than 3 cheques in sequence order.) Rs. 250/- for stop payment cancellations. iii.inward Returns handling charge (LBD) Rs. 500/ (This charge is applicable on Inward Returns on LBDs or PDCs against which the Bank has extended Advances to selected clients or as per the approval terms in the credit proposal, and stated in the facility offer letter). 4.Closure of Current Accounts If the monthly average minimum credit balance falls below Rs.1,000/-(Rupees Thousand) of a current account Bank has the discretionary powers to close such accounts. Page 10
(II). MUDARABAH TERM DEPOSITS Deposits can be placed for period of 6 and 12 months and profit will be paid at the maturity. Minimum Term deposit - Rs. 100,000/- Deposits are automatically rolled over/renewed for a similar period on the day of maturity unless otherwise instructed. Note: Premature withdrawals Withdrawals of Mudarabah Term Deposits before maturity date will be permitted only at the Bank s sole discretion and subject to profit determined by the Bank at the time a request for such withdrawal is received. Rupee Term Deposits (profit paid at Maturity) If the Deposits are withdrawn prematurely, applicable profit is decided by the Bank s discretion (III). SAVINGS ACCOUNTS (i) AL MAKHRAJ NORMAL SAVINGS ACCOUNT 1. Initial Deposit Rs.1,000/- 2.Profit 3.Closure of Savings Accounts Profit is computed & paid semi annually. If monthly minimum credit balance on saving account falls below Rs.500 (Rupees five hundred) the bank has the discretionary powers to close such accounts. (ii).al MAKHRAJ MINOR SAVINGS ACCOUNT 1. Initial Deposit Rs. 1,000/- Page 11
(IV).FOREIGN CURRENCY ACCOUNTS 1.Minimum balances (To Qualify for Profit) Savings Initial Deposit Term Deposits Minimum Deposit US$ 100/- or equivalent US$ 1,000/- or equivalent 2.Profit The method of application of profit on FCY accounts is similar to Rupee Saving Accounts. 3.Closure of Account If balance falls below USD 100 or equivalent in other applicable currency the bank has the sole discretionary powers to close such accounts. (V). PAY ORDERS / FUNDS TRANSFERS 1. Pay Order Issuance Rs 300/ per Cheque Pay order cancellation charges Rs. 300/- per Cheque 2.. RTGS Transfers (per transaction) Rs. 750/ per transfer 3.Slips Transfer(per transaction) Bulk fund transfer Rs.250/- per bulk transfer Free for Corporate clients Instant fund transfer - Rs. 250/- per transfer (VI). STANDING ORDERS 1.Establishment Fee(for external payments) Rs. 500/- 2.Transfers to accounts within the Bank 3.Payment by/slips to accounts with Other banks Free of charge Rs.50/- per transfer For payments to accounts with other banks, customers are advised to make an allowance of approximately three working days (being the transit period between the processing of the instructions to the realization of funds in the beneficiary s account). Page 12
(VII). ATM SERVICES 1.Issuance of new ATM Card to customer 2.Replacement of a Card Cash Withdrawal MCB ATM Cash Withdrawal Other Bank ATM Rs. 250/- per card Rs. 250/- per card Free of charge Rs. 20/- per transaction (VIII). ADDITIONAL SERVICES 1.Copies of Bank Statements (within 12 months) 2.Copies of Bank Statements (over 12 months) Rs.50/ per page/item. With a maximum of Rs.1200/- Rs.100/ per page/item. With a maximum of Rs.2400/- Free of charge for the Corporate/Business accounts Accounts on Daily Statements Accounts on Weekly Statements are issued Balance Certificates/Confirmations Cheques drawn on other banks sent for mark payments by us outgoing fax charges Rs. 250/- (per 30 days) Rs. 200/- (per 30 days) Rs.500/- Rs. 2,000/- per item (Excl Transport Charges) Rs.50/- per item Page 13
(IX). SAFETY LOCKERS Locker Type Initial Deposit Rent Type A Rs.50,000/- Rs. 2,500/- p.a. Type B Rs.100,000/- Rs. 3,500/- p.a. Type C Rs.150,000/- Rs. 4,500/- p.a. Type D Rs.200,000/- Rs. 5,500/- p.a. Charges for Break Opening of Lockers in case of loss of key. Rs.10,000/- Note: 365 days are considered as a year. (X). BANK GUARANTEES Bank Guarantee Amendment.5% per quarter Minimum Rs. 2,500/-(2% p.a.).5% per quarter; OR Minimum Rs. 1,500/-(2% p.a.) (XI) IJARA Documentation charges Rs. 5,000/- Page 14